Pepe price has dropped by 15% in the last 24 hours, but there are possibilities for a rebound due to strong support levels.
Pepe Price Rebound Prospects
The daily PEPE/USD chart shows the transition through several phases: a prolonged bearish trend, a bullish breakout, and consolidation near critical support levels. From July to early October, the price followed a persistent downtrend, frequently testing the support level at $0.00000050. The breakout occurred in late October, surpassing the previous resistance level, reaching a new local high. Holding above the $0.00000150 support zone could mark the beginning of a new upward wave.
Mixed Signals from Technical Indicators
Technical indicators present mixed signals. The MACD is in negative territory, indicating continuing bearish momentum, but the histogram suggests weakening selling pressure. The RSI stands at 39.88, approaching oversold territory, which could attract buyers. Further movement depends on whether the price can hold above the $0.00000150 support level.
Wall Street Pepe Presale Closes at $53 Million
Amid the price surge for Pepe, there is interest in the new project Wall Street Pepe (WEPE), whose presale has amassed $53.1 million. This new token, inspired by the Pepe the Frog meme, aims to create a platform for market insight sharing and decision-making among new traders. The project seeks to reduce the influence of "whale" investors, creating fairer conditions for retail traders.
While Pepe's price oscillates around key levels, investors continue to show interest in new tokens, with Wall Street Pepe raising significant funds during its presale stage.
